PRMIA 8010 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Operational Resilience | 5% | - DORA and resilience regulations - Business continuity and recovery - Third-party/vendor risk management |
| Operational Risk Capital & Modeling | 10% | - Capital requirements and approaches - Basic and advanced measurement methods - Basel III and recent developments |
| Risk Information & Monitoring | 15% | - Risk reporting and communication - Key Risk Indicators (KRIs) - Loss data collection and analysis |
| Compliance & Regulatory Risk | 10% | - Basel Accords and global regulations - Enterprise compliance frameworks - Compliance risk types and controls |
| Risk Governance | 15% | - Risk culture and ethical conduct - Roles of first, second, and third lines of defense - Governance structures and responsibilities |
| Introduction to Operational Risk Management | 10% | - Embedding risk management practices - Risk management frameworks and principles - ESG and climate risk considerations |
| Risk Management Framework | 15% | - Strategy and framework implementation - Risk policies, limits, and pricing - Risk capacity and risk appetite |
| Risk Assessment | 20% | - Top-down scenario analysis - Residual risk and issue management - Bottom-up process modeling - Risk and Control Self-Assessment (RCSA) |
PRMIA Operational Risk Manager (ORM) Sample Questions:
Question #1
Which of the following formulae describes Marginal VaR for a portfolio p, where V_i is the value of the i-th asset in the portfolio? (All other notation and symbols have their usual meaning.) A)
B)
C)
D)
All of the above
A. Option A
B. Option D
C. Option C
D. Option B
Question #2
Which of the following credit risk models relies upon theanalysis of credit rating migrations to assess credit risk?
A. KMV's EDF based approach
B. The CreditMetrics approach
C. The contingent claims approach
D. The actuarial approach
Question #3
Which of the following are ordered correctly in the order of debt seniority in a bankruptcy situation?
I. Equity, Subordinate debt, Senior debt
II. Senior debt, Preferred stock, Equity
III.Secured debt, Accounts payable, Preferred stock
IV. Secured debt, DIP financing, Equity
A. II and III
B. I and IV
C. II, III and IV
D. I
Question #4
The probability of default of a security over a 1 year period is 3%. What is the probability that it would not have defaulted at theend of four years from now?
A. 88.53%
B. 88.00%
C. 12.00%
D. 11.47%
Question #5
All else remaining the same, an increase in the joint probability of default between two obligors causes the default correlation between the two to:
A. Stay the same
B. Cannot be determined from the given information
C. Decrease
D. Increase
Solutions:
| Question #1 Correct Answer: B | Question #2 Correct Answer: B | Question #3 Correct Answer: A | Question #4 Correct Answer: A | Question #5 Correct Answer: D |
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